It is currently impossible to save into your account by converting your MTN Airtime into cash. It is still impossible to save money using your airtime. If this is done, it will encourage the savings culture among users of the DY Account.

Although MTN Nigeria claim is that you don't need to visit a bank before you open an account but in reality, that will only open a level one account for you. This level of account has a lot of limitations on both daily withdrawal and maximum available balance. To open a level two and three DY Account, you will need to visit a diamond bank branch for documentations.

There is a lot of middle man within the system. This will likely breed distrust within the people in the rural areas.

DY account don't have ATM CARDS and thereby excluded from online transactions.

http://www.gsmgist.com/2015/10/mtn-dy-account-good-features-and-its.html

There is bound to be criticism, limitations or disadvantage of anything or idea postulated or implemented. The essence of drawing these disadvantage is to make an individual compare the strength and weakness in making decision and then improvement of service delivery by addition or substraction. Just like saying the advantages and disadvantages of using android ,blackberry or iPhone

asuustrike2009:

There is bound to be criticism, limitations or disadvantage of anything or idea postulated or implemented. The essence of drawing these disadvantage is to make an individual compare the strength and weakness in making decision and then improvement of service delivery by addition or substraction. Just like saying the advantages and disadvantages of using android ,blackberry or iPhone

your 'oyinbo' is uncalled 4, sincerely, u made an excellent nonsense.

In as much I don't want to engage so deranged fellow on Nairaland, I consider ur post insultive and a disgrace to the integrity of the black race.

When will a black man stop seeing another as a cheat?

With those limitations, how will a farmer in ekohinde village make use of the DY Account to it potentials?

You made a statement and insult someone else without consulting your brain as other have pointed out too.

Every system is open to criticism so as to improve If you care to know.

Thanks for the insult bro, your case might be that of a thief will surely keeps its penny away from an angel.

cooldays:


In as much I don't want to engage so deranged fellow on Nairaland, I consider ur post insultive and a disgrace to the integrity of the black race.

When will a black man stop seeing another as a cheat?

With those limitations, how will a farmer in ekohinde village make use of the DY Account to it potentials?

You made a statement and insult someone else without consulting your brain as other have pointed out too.

Every system is open to criticism so as to improve If you care to know.

Thanks for the insult bro, your case might be that of a thief will surely keeps its penny away from an angel.

sorry if u find my post insulting...now to the topic,that account was specifically targeted at a particular segment of the population, its not meant for everyone....you should have reasoned in that direction before coming up with your analysis of limitations and yes those restrictions are there to curtail the incidence of fraud. i seriously think you were very myopic in your analysis given the fact that there are plenty types of account one can choose from...

Etisalat - GTB account is better. But overall deposit won't go beyond 200k.

Not being able to convert airtime to money is a CBN restriction. They don't want airtime to be used in place of cash.

The other limitations are because of KYC "Know Your Customer" rules. There are 3 KYC levels. Without submitting a valid I'D / Nepa bill, you are placed on KYC level 1 which restricts your account balance and other things.

KYC applies to both Mobile Money and normal Bank Accounts.
You are most likely on the 1st hence the limitations.

Mustiboy:
your 'oyinbo' is uncalled 4, sincerely, u made an excellent nonsense.

If my Oyibo non necessary, then which u dey type? It was called for because that's why you went to school in the first place

domcarez:


sorry if u find my post insulting...now to the topic,that account was specifically targeted at a particular segment of the population, its not meant for everyone....you should have reasoned in that direction before coming up with your analysis of limitations and yes those restrictions are there to curtail the incidence of fraud. i seriously think you were very myopic in your analysis given the fact that there are plenty types of account one can choose from...

My is to raise issue and it is for MTN or anyone else to explain. Someone just gave an explanation here which is informative... I have seen the acceptance of the DY account to be very low by the public. Take a statistical analysis and you will discover that discussing of its limitations will only help improve the package.

The word myopic do not come up here at all. What other mobile payment account is there from MTN that has a different feature?

Iolo:
Not being able to convert airtime to money is a CBN restriction. They don't want airtime to be used in place of cash.

The other limitations are because of KYC "Know Your Customer" rules. There are 3 KYC levels. Without submitting a valid I'D / Nepa bill, you are placed on KYC level 1 which restricts your account balance and other things.

KYC applies to both Mobile Money and normal Bank Accounts.
You are most likely on the 1st hence the limitations.

Thanks I have gained from this

cooldays:


My is to raise issue and it is for MTN or anyone else to explain. Someone just gave an explanation here which is informative... I have seen the acceptance of the DY account to be very low by the public. Take a statistical analysis and you will discover that discussing of its limitations will only help improve the package.

The word myopic do not come up here at all. What other mobile payment account is there from MTN that has a different feature?

No bro, the acceptance is considerably high...do you know DY account has a mobile application which gives u an edge over conventional accounts?....your observations are ok in terms of the absence of ATM cards for the account which ofcourse will come in later....but the limitations on the volume of cash is well suited because of KYC....that account is just sweet if you know your way around it...